In today’s world full of uncertainties, insurance is a crucial aspect of your solid financial plan. Term insurance and health insurance are the two main essential insurance coverages that every individual must have. Without this comprehensive financial protection, one cannot ensure peace of mind. Securing the financial future of dependent family members and having a […]
Articles Tagged: term plans
Term insurance is not an investment product, as it has no maturity value
Published in Mint on Feb 02, 2017, Written by Abhishek Bondia How do I lower the cost of buying life insurance? I am 28 years old and earn Rs20,000 per month. I am the sole earner in my family and can only spare around Rs2,000-3,000 a month for insurance, which I now consider to be […]
Life insurers selling policies that die early
Published in Mint on Apr 19 2016 What are the chances that a poorly understood and badly sold life insurance policy will run its course? Pretty slim, according to the life insurance industry experience in India. Poor selling practices—long-term policies being sold as short-term policies, lack of communication of policy benefits, poor understanding of costs, […]
Usually, the sum assured in a term plan cannot be changed after you buy it
Published in Mint on April 23 2017, Written by Abhishek Bondia About 2 years ago, I bought a term plan for Rs1 crore, but seeing the way costs are increasing, I want to increase this to Rs2 crore. Can I enhance the same policy, or will I need to buy a new one of Rs2 […]